Thinking about retiring somewhere sunny and cheaper than home? Boldin’s latest planning guide lays out what actually goes into moving abroad for retirement, and it’s more than just booking a flight.
First up, residency visas. Most countries want proof of steady income or savings, often somewhere between $1,000 and $4,000 a month, before they’ll let retirees settle in long term. Healthcare is another piece to sort out on your own, since Medicare simply doesn’t follow you overseas. And yes, Uncle Sam still wants a tax return every year no matter where you’re living.
On the money side, couples can expect monthly living costs anywhere from $1,500 to $4,000, depending on the region chosen. That’s a wide range, but it gives people something to plan around.
Here’s a bright spot though. The average Social Security benefit sits around $2,084 a month, and for many retirees abroad, that check alone covers a solid chunk of everyday expenses.
Boldin’s planner tool walks people through these numbers so they can see where they’d actually land financially before making the leap. For anyone dreaming of a retirement overseas, it might be worth running the math first.
My Take…
Dreaming of margaritas and cheap rent forever? Cute. Boldin's guide says retiring abroad means visas demanding $1,000 to $4,000 monthly proof, Medicare ghosting you completely, and yes, the IRS still texting. Couples budget $1,500 to $4,000 monthly. Silver lining? Social Security's $2,084 average actually helps. Basically, math before margaritas, folks.
Click on the link below for the full article:
https://www.boldin.com/retirement/how-to-retire-abroad-retirement-overseas/
